Apple profits – pressnews

Apple sales lose ground, but iPhone growth strong

3Nov

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Technology

Apple sales lose ground, but iPhone growth strong

[ad_1] Apple on Thursday reported that sales fell for the fourth consecutive quarter when compared to the prior year, but profit rose on the back iPhones and services.The tech giant said it made a profit of $23 billion on revenue of $89.5 billion, which was down slightly from the same period last year. Apple chief executive Tim Cook said iPhone sales set a new record for its September quarter while money taken in from services hit an all-time high. The company brought in $43.8 billion from iPhone sales while its services unit selling products such as Apple Music and iCloud brought in $22.3 billion, up 16 percent from a year ago."We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup," Cook said in an earnings release.The iPhone ...

Apple Slips After iPhone and Services Revenue Comes in Light

[ad_1] Apple Inc. delivered just enough good news in its quarterly report to avoid the fate of most tech giants this earning season. Apple Inc. delivered just enough good news in its quarterly report Thursday to avoid the fate of most tech giants this earning season, when its peers have seen valuations plunge by hundreds of billions of dollars. Though sales of iPhones and services were softer than expected last quarter, Apple's revenue and profit both topped analysts' estimates. The company said that growth wouldn't be as strong during the current period, but investors found enough optimism to send the stock higher in late trading Thursday. That provided a sharp contrast with Alphabet Inc., Amazon. com Inc., Meta Platforms Inc., Microsoft Corp. and others, which all delivered glo...

Apple earnings rise as economic gloom hits tech

[ad_1] Apple Inc on Thursday reported revenue and profit that topped Wall Street targets. Apple Inc on Thursday reported revenue and profit that topped Wall Street targets, one of the few bright spots in a tech sector battered by spending cutbacks due to inflation. The forecast for the holiday quarter was more grim. While not providing specific numbers, Apple said revenue growth would fall below 8% in the December quarter but did not go as far as Amazon. com, whose dire holiday outlook sent its shares down 14%. Apple shares initially dipped in after-hours trading but recovered in positive territory. The Cupertino, California-based tech giant was saved by its oldest technology, its laptop computers, while its star, the iPhone, stumbled. Although iPhone sales were not as strong as som...